$FIT is trading well today after nearly hitting the $5 mark yesterday. The company has about 750M in cash on the balance sheet and was trading near a 1B valuation at the lows in yesterday’s session. Valuation, the stock is cheap, and many seem to agree with prices running higher today. Here’s my tweet yesterday:
Just a reminder that $FIT is trading near cash. Talk about thrown out with the bathwater. Someone will take them out at these levels.
— Cajun (@RaginCajun) May 31, 2017
The stock is back on the runner screen along with nearly 200+ tickers in today session. Indeed, the first of the month buy program is in full effect. Have a look at today’s screen HERE.
Oil, however, went negative on the session, but stocks seem to be holding in for now. Let’s see how we close today.
Developing..
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Glad you mentioned this one RC. I’ve had my eye on FIT for awhile now, thinking it’s long overdue to start trending up. But so far, there hasn’t been much in the way of a sustained move higher. I agree with your bathwater comment though and will keep watching because at some point this thing “should” turn around (you’d think!)
Trading near cash